J.P. Morgan Ordered to Fix Lapses

By

Dan Fitzpatrick,

Victoria McGrane And

Scott Patterson

Updated Jan. 14, 2013 7:35 p.m. ET

U.S. regulators hit J.P. Morgan Chase & Co. with four formal enforcement actions targeting lapses in risk-management and money-laundering controls, including the first sanctions in response to the bank's multibillion-dollar 2012 trading debacle.

One set of cease-and-desist orders from the Office of the Comptroller of the Currency and the Federal Reserve instructs the largest U.S. bank by assets to remedy the breakdowns that...